Nuformix PLC Project update - Progress on NXP002 and NXP004 (2877A)
June 01 2021 - 1:00AM
UK Regulatory
TIDMNFX
RNS Number : 2877A
Nuformix PLC
01 June 2021
Nuformix plc
("Nuformix" or the "Company")
Project update
Progress on pipeline assets NXP002 and NXP004
Nuformix plc (LSE: NFX), a pharmaceutical development company
targeting unmet medical needs in fibrosis and oncology via drug
repurposing, confirms that, post-fund raising, it has started the
planned studies on its pipeline assets NXP002 (new form of
tranilast) and NXP004 (undisclosed oncology drug).
-- NXP002 additional pre-clinical activities on inhalation feasibility data package commenced
-- NXP004 additional research into new physical forms commenced
NXP002
NXP002 is the Company's pre-clinical lead asset and a potential
novel inhaled treatment for Idiopathic Pulmonary Fibrosis (IPF). It
is a repurposed, new form of the drug tranilast, to be delivered in
an inhaled formulation. As previously communicated, Nuformix
planned to perform additional pre-clinical studies to generate a
more robust data package with the goal of increasing the value of
this asset and rendering it more attractive to licensing partners.
Since completing the successful fundraise in March 2021, studies
have commenced on these activities through outsourced expert
contract organisations.
NXP004
NXP004 represents novel forms of an undisclosed marketed
oncology drug that has significant sales (more than GBP1 billion
per annum in 2020) and is showing further growth. Nuformix filed
one patent application on novel forms of this drug in 2020. Further
outsourced research, through an expert contract organisation, on
additional new forms and their properties has now commenced. If the
research is positive, further patent applications may be filed.
The third pipeline asset, NXP001, a new form of the drug
aprepitant, is progressing as planned. Oxilio exercised an option
to take a licence to the Intellectual Property on this asset for
oncology indications on 23 March 2021 and the licence agreement is
currently being progressed.
Dr Anne Brindley, CEO of Nuformix, said: "I am pleased to
communicate that, with the proceeds of the recent oversubscribed
fund-raise in hand, the Company is executing on its plan that was
communicated in March - both for NXP002 and NXP004. We are
expecting results later in the year and further updates will be
communicated when appropriate data are available. Thus, Nuformix is
enacting on its strategy communicated in Q1 2021. Also the
licensing discussions regarding NXP001 are ongoing and an update on
that will be communicated at the appropriate time."
Enquiries:
Nuformix plc +44 (0)1223 627 222
Dr Anne Brindley, CEO
Allenby Capital Limited +44 (0)20 3328 5656
Nick Athanas / George Payne (Corporate
Finance)
Tim Sohal / Matt Butlin (Sales
& Corporate Broking)
Walbrook PR +44 (0)20 7933 8780 or nuformix@walbrookpr.com
Anna Dunphy / Paul McManus / Kiki
Zaccagnini
About Nuformix
Nuformix is a pharmaceutical development company targeting unmet
medical needs in fibrosis and oncology via drug repurposing. The
Company aims to use its expertise in discovering, developing and
patenting novel drug forms, with improved physical properties, to
develop new products in new indications that are, importantly,
differentiated from the original (by way of dosage, delivery route
or presentation), thus creating new and attractive commercial
opportunities. Nuformix has an early-stage pipeline of preclinical
and Phase 1-ready assets with potential for significant value and
early licensing opportunities.
For more information, please visit www.nuformix.com
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